Jun 30, 2021 | Posted by Eric Bell
Euronext, the largest stock exchange in Europe says it is moving its data center out of London to Italy because of Brexit. It says it made the decision because it needs a predictable regulatory environment which the UK can’t provide. Euronext initially moved its data center infrastructure from Paris, France to London, the UK in 2011. It will now be moving its infrastructure to an Aruba S.p.A facility in Bergamo, Italy.
In February 2021, CFO of Euronext, Giorgio Modica, said the Company has started doing preparatory work on basing all its physical infrastructure at the group level in Italy. He also said that the first phase of the Group’s core migration is scheduled for 2022.
Stephane Boujnah, CEO of Euronext, remarked on the development. He said there’s an uncertainty on what the future of regulations that applies to circulating data between the EU and the UK would be. He further added that the Company’s core business is to serve companies in the EU, which makes it necessary for it to be regulated within the EU.
